DR. F. DE MAN: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
DR. F. DE MAN
Largest movements
- Current investments +€80,000
up €80,000 (+26.7%), from €300,000 to €380,000
- Cash +€18,443
up €18,443 (+7.4%), from €249,447 to €267,890
mainly Other debts (+€108,658) and Net result for the year (+€103,049)
- Other debts +€108,658
up €108,658 (+152%), from €71,317 to €179,975
- Reserves -€14,200
down €14,200 (-1.9%), from €728,374 to €714,174
- Gross operating margin -€20,120
down €20,120 (-9.0%), from €224,753 to €204,633
- Taxes -€8,374
down €8,374 (-16.3%), from €51,309 to €42,935
- Depreciation +€3,754
up €3,754 (+7.1%), from €52,553 to €56,307
From the 2025 result to the 2026 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,089,917 | €1,189,626 | +€99,709 | +9.1% |
| Fixed assets | 21/28 | €369,614 | €361,453 | -€8,160 | -2.2% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €369,614 | €361,453 | -€8,160 | -2.2% |
| Land and buildings | 22 | €341,164 | €316,856 | -€24,308 | -7.1% |
| Plant, machinery and equipment | 23 | €4,992 | €5,002 | +€11 | +0.2% |
| Furniture and vehicles | 24 | €8,677 | €4,022 | -€4,655 | -53.6% |
| Other tangible fixed assets | 26 | €14,782 | €35,573 | +€20,792 | +141% |
| Current assets | 29/58 | €720,303 | €828,172 | +€107,869 | +15.0% |
| Amounts receivable within one year | 40/41 | €9,303 | €16,080 | +€6,778 | +72.9% |
| Trade receivables | 40 | €6,703 | €2,480 | -€4,222 | -63.0% |
| Other amounts receivable | 41 | €2,600 | €13,600 | +€11,000 | +423% |
| Current investments | 50/53 | €300,000 | €380,000 | +€80,000 | +26.7% |
| Cash at bank and in hand | 54/58 | €249,447 | €267,890 | +€18,443 | +7.4% |
| Deferred charges and accrued income | 490/1 | €161,553 | €164,202 | +€2,649 | +1.6% |
| Total equity and liabilities | 10/49 | €1,089,917 | €1,189,626 | +€99,709 | +9.1% |
| Equity | 10/15 | €987,784 | €973,833 | -€13,951 | -1.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €728,374 | €714,174 | -€14,200 | -1.9% |
| Distributable reserves | 133 | €728,374 | €714,174 | -€14,200 | -1.9% |
| Profit (loss) carried forward | 14 | €159,410 | €159,659 | +€249 | +0.2% |
| Amounts payable | 17/49 | €102,132 | €215,793 | +€113,660 | +111% |
| Amounts payable after more than one year | 17 | €11,658 | €12,530 | +€873 | +7.5% |
| Financial debts | 170/4 | - | €12,530 | +€12,530 | |
| Other amounts payable | 178/9 | €11,658 | - | -€11,658 | |
| Amounts payable within one year | 42/48 | €86,453 | €200,203 | +€113,750 | +132% |
| Trade debts | 44 | €2,186 | €4,097 | +€1,912 | +87.5% |
| Suppliers | 440/4 | €2,186 | €4,097 | +€1,912 | +87.5% |
| Taxes, remuneration and social security | 45 | €12,950 | €16,130 | +€3,180 | +24.6% |
| Taxes | 450/3 | €12,950 | €16,130 | +€3,180 | +24.6% |
| Other amounts payable | 47/48 | €71,317 | €179,975 | +€108,658 | +152% |
| Accrued charges and deferred income | 492/3 | €4,022 | €3,059 | -€963 | -23.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,553 | €56,307 | +€3,754 | +7.1% |
| Other operating charges | 640/8 | €2,958 | €3,273 | +€315 | +10.6% |
| Gross operating margin | 9900 | €224,753 | €204,633 | -€20,120 | -9.0% |
| Operating profit (loss) | 9901 | €169,241 | €145,052 | -€24,189 | -14.3% |
| Financial income | 75/76B | €5,500 | €4,400 | -€1,100 | -20.0% |
| Recurring financial income | 75 | €5,500 | €4,400 | -€1,100 | -20.0% |
| Financial charges | 65/66B | €4,534 | €3,469 | -€1,065 | -23.5% |
| Recurring financial charges | 65 | €4,534 | €3,469 | -€1,065 | -23.5% |
| Profit (loss) for the period before taxes | 9903 | €170,207 | €145,984 | -€24,223 | -14.2% |
| Income taxes | 67/77 | €51,309 | €42,935 | -€8,374 | -16.3% |
| Profit (loss) for the period | 9904 | €118,899 | €103,049 | -€15,850 | -13.3% |
| Profit (loss) for the period to be appropriated | 9905 | €118,899 | €103,049 | -€15,850 | -13.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.